Tata Safari, Harrier and other models to get more expensive again
Tata Motors on Friday said it would increase prices of its passenger vehicles from February 1 onwards by around 1.2 per cent. This is over and above the price hike that had already been announced in December for the period from January 1 onwards. Tata Motors sells a number of car models in the country, ranging from Tiago and Punch to the Safari and Harrier SUVs.
Tata Motors has once again pinned the blame of the most-recent price hike n increasing input costs. This is what also prompted a similar price hike at the turn of the calendar year. And even as the Indian carmaker continues to bet big on the SUV body style as well as battery-powered technology, it has rolled out repeated hikes in recent times. “The company has been absorbing a significant portion of the increased costs on account of regulatory changes and rise in overall input costs and is hence passing on some portion through this hike," an official statement from the company informed.
But Tata Motors is not the only carmaker to have increased prices in recent months. Almost every passenger vehicle manufacturer had announced similar price hikes in December which meant buying a new car in 2023 has become more expensive - by varying margins - than it was in 2022. Companies say rising input costs and inflationary pressures are making it imperative for them to pass on the pressures to the end customer.
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India recently became the world's third largest automobile industry and while demand for passenger vehicles remains solid, many experts warn against repeated price hikes potentially and possibly damaging a strong sentiment towards new cars.
